3 ms·
“The tech industry creates roughly 10 awesome companies per year,” he says. “That’s independent of how much money VCs have or how many companies funded. There a
by 001sky 14y ago
“The tech industry creates roughly 10 awesome companies per year,” he says. “That’s independent of how much money VCs have or how many companies funded. There are 10 awesome companies a year, and they will get funded. It’s pretty simple.” He says if a company is going to be successful you can see it in 18 to 36 months. If you don’t, that company simply shouldn’t get to take up any more of the Valley’s rich resources — whether that’s talent or people. Sorry.
-- The Finite theory of invention. Or appeciation.
- erichocean 14y agoWhat'll be fun is when one or more of those roughly 10 awesome companies don't need to get funded at all in the traditional sense, thanks to the JOBS act coming online soon. My previous startup pursued a Series A last year (and failed), and I'm completely forgoing VC for my current startup. Instead, it'll be JOBS act and then straight into Second Market. Ironically, we're raising almost twice as much money this time for a product my last venture already included amongst a panoply of other tech developed over a 10+ year period. Sometimes, it feels like the market is almost completely irrational in the small, and only seems to approach rationality over huge numbers of ventures. All in all, I'm very happy with the JOBS act. Instead of making a bunch of already wealthy people on Sand Hill Road I just met even richer, I'll be able to spread that wealth around far, far more than I could have otherwise.